Benefits and Drawbacks of Accepting a Settlement of Your Truck Collision Claim

An Attorney Talking to a Client About a SettlementIf you are injured in a truck accident caused by a negligent truck driver, you are entitled to be fully compensated for your injuries. After you file your claim, you will need to make an important decision at some point: accept the insurance company’s settlement offer or take your case to jury trial. Here are some of the advantages and disadvantages of settling your claim to consider when weighing your options.

Four Benefits of Settling Your Truck Accident Case

Most truck collision claims are settled before they are decided at a jury trial. Here are four benefits of accepting a settlement:

  • Saves money. It is expensive to have your truck accident case decided by a jury. You could owe expert witness fees, copying fees, and higher attorney fees that would be deducted from your judgment if you win your case.
  • Reduces stress. It can be stressful to have to go to court and testify at a trial. How well you testify could have a direct impact on much the jury awards you. You can avoid this stress by settling your claim out of court.
  • Protects your privacy. The court documents in your case are a public record. Anyone can access them either through a computer or going to the courthouse and viewing the court file. You can avoid this loss of your privacy by settling your claim.
  • Gives you certainty. Juries are unpredictable. Even if you have an open and shut case against the trucker and trucking company, there is no guarantee that you will be awarded any money by the jury. By settling your case, you have the certainty of knowing you will receive some money and the amount you will be paid by the insurance company.

Two Cons of Settling Your Case

Like most things in life, there are pros and cons to settling your claim. Two drawbacks that you should consider include:

  • Accepting less money. Each side almost always gives up something when they settle a truck accident or other personal injury case. You will most likely have to agree to accept less than the full value of your claim in order to reach a settlement with the insurance company.
  • Not getting justice. You may feel a greater sense of justice if you win your case at a jury trial, and they award you all or most of the compensation you are asking for than if you settle it out of court. However, there is no guarantee what will happen at a jury trial.

Should you settle your claim or take your case to a jury trial? Our knowledgeable truck accident lawyers are here to help you make this important decision that can have long-term consequences in your life. Call our Norfolk office to schedule a free case evaluation today.

 

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